Responsible for keeping accurate records for all daily transactions along with updation of internal systems with financial data. Preparation of balance sheets, recording of accounts payable and accounts receivable. Participation in financial audits. Preparation of budget and review of the financial policies, to look after the implementation of the same.
Finance & Accounts Department
1.
Banking and Facility Management
- Preparation of the transfer letter for utilization of the credit.
- Prepare the LC tracker and coordination with the bank for the original copy of LC and if any changes.
- Review the report of bank balances and estimate funds transfer from the designated bank account to the designated operations bank.
- Record the fund transfers in the system.
- Maintaining of a BG tracker.
2.
Investment Accounting
- Open a recent ledger account for recording of investment in a new fund
- Perform activities like udation of investment report, recording of investment transfer in system, filling the application form for investment.
- Follow up for the acknowledgement copy from the bank for invested amount.
- Verification of the investment tracker and identifying investments on which income is due
- Obtaining investment documents to verify income due on investment.
3.
Planning and budgeting
- A budget commencement meeting to be convened and coordinated with calling all department HODs and Head Finance and Accounts.
- Obtain and compile the linewise annual budget from the respective departments based on the guidelines defined.
- Circulate the approved annual budget to all concerned personnel
- Obtain the details of budgeted performance i.e actual performance at the end of every month from all the departments to identify deviations
- Receive the information from the concerned department regarding Cash Inflows and Outflows
- Prepare the budgeted net cash flow.
4.
Creation and Monitoring of COA
- Verify the details on client creation form received from different departments.
- Verify the authorized agreement, LOA/ LOI & work order with the request made in system for creation/amendment of project.
- Scrutinize & identify non-operating accounts in which no entries has been passed in last 12 months.
- Compare bank statement and perform independent calculation for interest payable.
5.
Fund Raising
Secured Fund Raising
- Prepare request for proposal for identified financial institutions.
- Prepare comparative sheet to compare the proposals from different institutions.
- Prepare a detailed cash flow statement.
- Valuation of documents to check the authenticity of the document prepared.
- Identify all the loans taken by the company and prepare detailed interest working capturing all workings and update the interest payable in tracker sheet.
- Review the tracker sheet and highlights all interest payable in next 30 day.
- Pass accounting entries for payment of interest.
Unsecured Fund Raising
- Prepare a request for proposal for the identified brokers.
- Prepare a comparative sheet to compare the proposals from different brokers.
- Prepare detailed statement for various feasibility studies.
- Compare the bank statement and performs independent calculation for interest payable
6.
Adherence to the procedures
- Accurate and timely updating of ERP at all stages of Finance & Accounts process as per SOP.
- Adherence to Finance & Accounts process defined in SOP.Role & responsibilities